interestrateripoff Posted July 20, 2014 Share Posted July 20, 2014 UK home-buyers face being thrown on the breadline if interest rates soar, a shock report has warned. From today's sun, but can't work out what report they are actually talking about. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 20, 2014 Share Posted July 20, 2014 FUD to stop IR increases. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 20, 2014 Author Share Posted July 20, 2014 One in four mortages 'at risk' when rates rise Resolution Foundation warns that two million borrowers could face financial difficulties and calls on mortgage lenders to offer advice Quote Link to comment Share on other sites More sharing options...
smiley Posted July 20, 2014 Share Posted July 20, 2014 "... and calls on Mortgage Lenders to offer advice." Isn't that great. It's about as useful as: "... and calls on the tobacco industry to offer free socks to people suffering lung cancer." Quote Link to comment Share on other sites More sharing options...
Venger Posted July 20, 2014 Share Posted July 20, 2014 Resolution Foundation warns that two million borrowers could face financial difficulties and calls on mortgage lenders to offer advice Pay what you owe or sell up now. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 21, 2014 Share Posted July 21, 2014 Chap from BNP Paribas on Fivelive this morning said that they expect a 0.25% rise in the Autumn and then a quarter percent rise every quarter next year. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 21, 2014 Share Posted July 21, 2014 I read this as: Men with houses says please set policy to suit 2M people over the other 68 Million. We live in a land of selfish ****s Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted July 21, 2014 Share Posted July 21, 2014 Chap from BNP Paribas on Fivelive this morning said that they expect a 0.25% rise in the Autumn and then a quarter percent rise every quarter next year. Surely the govt will hold off any rise in rates until they get the next election out of the way? With an economy apparently in recovery they can win the election at a canter. Risk the start of an impending hpc and panic could set in.. Quote Link to comment Share on other sites More sharing options...
winkie Posted July 21, 2014 Share Posted July 21, 2014 UK home-buyers face being thrown on the breadline if interest rates soar, a shock report has warned. From today's sun, but can't work out what report they are actually talking about. Whatever or whoever must have high debt, high debtors require low debt charges to continue.....there are thousands on the breadline now holding no debt. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 21, 2014 Share Posted July 21, 2014 Surely the govt will hold off any rise in rates until they get the next election out of the way? With an economy apparently in recovery they can win the election at a canter. Risk the start of an impending hpc and panic could set in.. They reckon some BOE members are getting hawkish. They said that it won't be long before the monthly BOE rate minutes show people voting for a rate rise. Quote Link to comment Share on other sites More sharing options...
Venger Posted July 21, 2014 Share Posted July 21, 2014 At least the occasional homeowner gradually comes around to realities of life, when their circumstances change, although still with some whinging. "Banks meant to prevent homelessness." It's not like the vast majority have not had many years of super-special interest rate treatment. Counselling for free-will mortgage debtors if base rates go up from 0.5%, and polishing their shoes. Yesterday, 4:29 PM Nat west mortgageI am writing following a year of challenges.1. I was redundant last year and informed Nat West and asked if I could have interest free as I had extensive equity for six months while I moved forward No was the answer.2. I slipped into very small arrears and put me on repayment and for the last 6months they continue to not take the right payment as keep missing my arrears payemnt so I spend all my time getting it corrected.3. I have a 12 ys left and I asked for change in yrs as I had to take massive drop in my salary as I could not get work, noI have become so disallusioned that I am now selling my home and moving to private rented as I cannot go on anymore with constant rejection of help.I thought they were meant to help customers and work to prevent homelessness but no Funny I am a qualified housing officer and heres me in dire straits!!!Well when sold at least I can move forward http://forums.moneysavingexpert.com/showthread.php?t=5020858 + a good reply "The onus still lies with individuals to tackle their own problems. Which you are appear to be doing by selling up." Although some finding lenders' decisions baffling. Perhaps something to do with more lenders imposing BTL to income requirements on new mortgages. http://forums.moneysavingexpert.com/showthread.php?t=5020430 Quote Link to comment Share on other sites More sharing options...
winkie Posted July 21, 2014 Share Posted July 21, 2014 Correct me if wrong, but can,t lenders charge what they like for the issuance of debt irrespective of boe base rate.....if not via interest it can be fees or charges or tying people into a position that makes it hard for them to move? Quote Link to comment Share on other sites More sharing options...
Venger Posted July 21, 2014 Share Posted July 21, 2014 Chap from BNP Paribas on Fivelive this morning said that they expect a 0.25% rise in the Autumn and then a quarter percent rise every quarter next year. Caught end of a segment on the Radio this morning, with them taking about GDP going to show something like 3%, and best in Europe. A move into 'expansion' the man interviewed said, which must put a bit of weight behind ending 'rescue the victims' emergency low rates. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 21, 2014 Share Posted July 21, 2014 This has been obvious for years...... but worry not, our career politician led coalition government have a good track record of sorting out this kind of problem. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 21, 2014 Share Posted July 21, 2014 Caught end of a segment on the Radio this morning, with them taking about GDP going to show something like 3%, and best in Europe. A move into 'expansion' the man interviewed said, which must put a bit of weight behind ending 'rescue the victims' emergency low rates. And ye And yet figures out on Friday might show a second quarter of negative growth in the US and hence the US technically in recession - we are booming and the US is in recession???? Perhaps it is all fakery here? Quote Link to comment Share on other sites More sharing options...
Reck B Posted July 21, 2014 Share Posted July 21, 2014 A political move from the 'independent' bank of England ahead of the election next year. A quarter % rise isn't going to crash the economy, but it IS going to send a signal to the millions and millions of people who have lost out during these emergency rates. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 21, 2014 Share Posted July 21, 2014 Surely the govt will hold off any rise in rates until they get the next election out of the way? With an economy apparently in recovery they can win the election at a canter. Risk the start of an impending hpc and panic could set in.. If you were up for election and your MPs were getting emails/letters day on day demanding an end to low interest rates from pensioners/savers ( don't doubt for a minute this has happened ) wouldn't you try and appease them in the run to to the election then hammer down the rates again ? Say, a "0.Fec All" % rise in October to say, "oh look at us Tories we help the people who actually earned the money" Alternatively, the US have told them rates are going up. When the US decide the UK are raising their rates, the rates will rise. Believe what they do, not what they say. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 21, 2014 Share Posted July 21, 2014 If you were up for election and your MPs were getting emails/letters day on day demanding an end to low interest rates from pensioners/savers ( don't doubt for a minute this has happened ) wouldn't you try and appease them in the run to to the election then hammer down the rates again ? Say, a "0.Fec All" % rise in October to say, "oh look at us Tories we help the people who actually earned the money" Alternatively, the US have told them rates are going up. When the US decide the UK are raising their rates, the rates will rise. Believe what they do, not what they say. Well no, I wouldn't, but then I'm not a career politician. Quote Link to comment Share on other sites More sharing options...
1929crash Posted July 21, 2014 Share Posted July 21, 2014 Really? http://www.rttnews.com/2351302/philly-fed-index-unexpectedly-jumps-to-three-year-high-in-july.aspx http://www.reuters.com/article/2014/07/03/us-usa-economy-idUSKBN0F80AW20140703 The United States Bureau of Labour Statistics (BLS) has this complicated so-called Birth-Death model for employment/unemployment. It is frequently criticised for its unreal assumptions. Food stamp usage is till on the rise and the housing market so far as I can see, is in the doldrums, so there is at least in that sector a discrepancy between US and UK. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted July 21, 2014 Share Posted July 21, 2014 Surely the govt will hold off any rise in rates until they get the next election out of the way? The time to raise by a small amount is shortly before the election, appease the grey vote in time for the ballot box whilst not harming the over leveraged before the election as it will take some time for the effects to be felt. And at that point the rise will be small. Autumn/winter. Quote Link to comment Share on other sites More sharing options...
ticket2ride Posted July 21, 2014 Share Posted July 21, 2014 2 million savers off the breadline if rates rise, shocker. Quote Link to comment Share on other sites More sharing options...
cybernoid Posted July 21, 2014 Share Posted July 21, 2014 2 million savers off the breadline if rates rise, shocker. More than that, and a segment of the population that votes. Hence prior to the election. Quote Link to comment Share on other sites More sharing options...
billybong Posted July 21, 2014 Share Posted July 21, 2014 For sure the government will be boasting if the (manipulated) GDP figure is "good" but the GDP/Capita figure reflects reality far more accurately showing as it does that the UK is well down that global league table. If it was the World Cup they still don't qualify. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted July 21, 2014 Share Posted July 21, 2014 Breadline seems to be a bit of a dated word because in western societies poverty is associated with obesity certainly in women and children........but not so much in men for some reason (maybe because of alcohol abuse). Pehaps we need another adjective to describe monetary disadvantage and its obvious exclusions from participation in the economy, but weight isn't one of them. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 21, 2014 Share Posted July 21, 2014 Really? http://www.rttnews.com/2351302/philly-fed-index-unexpectedly-jumps-to-three-year-high-in-july.aspx http://www.reuters.com/article/2014/07/03/us-usa-economy-idUSKBN0F80AW20140703 Apparently the jobs being created are mostly part-time and mostly minimum wage. I read it on a variety of financial sites but I am suffering from information over-load at the moment. I think my head is close to exploding. If you hear a bang coming from Wales it is probably me. Quote Link to comment Share on other sites More sharing options...
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